Residential Remortgages

In recent years, many borrowers have taken advantage of highly competitive discounted or short-term fixed rates. While these rates have served them well for two or three years, many will be coming to an end in the months ahead.

When they do, their mortgages will instantly switch to the higher standard variable rate, which could see big increases in their monthly repayments.

To avoid this scenario, it is important that borrowers look into the possibility of remortgaging their property, possibly (but not always) to another lender. Doing so can save them a significant sum of money over time.

Of course, there are other reasons why someone may wish to remortgage. Their current residential mortgage may have been suitable when they took it out, but personal circumstances change and it could be that a different type of mortgage is now better suited to their needs.

Alternatively, for borrowers with tracker mortgages, if interest rates looked set to rise in the short to medium term then they could potentially avoid the inevitable increase in their monthly repayments by tying into a new fixed rate deal.

Or it might be that borrowers wish to remortgage simply to make home improvements or to consolidate their debts.

Whatever your goals, remortgaging can significantly reduce your monthly repayments or be a cost-effective way to generate extra funds. It has certainly become more popular in recent years as borrowers have switched on to the huge potential savings.

At Cobalt Capital, we offer a packaged remortgage service, which will find you the most competitive rate in the least possible time, and also, where possible, waive any legal and arrangement fees.

Importantly, we can ‘reserve’ rates up to six months before a particular rate comes to an end, which can be very useful at a time when competitive mortgage products are less common due to market uncertainty.

To find out how remortgaging could help you, simply call one of our consultants on 0845 330 0809.